Official Gazette dated 28 August · two publications
In this issue
- Income Tax Law No. 193 · Agreement on renewable energy projects between Turkey and Saudi Arabia approved
- Corporate Tax Law No. 5520 · Agreement between Turkey and Saudi Arabia regarding renewable energy projects approved
- Value Added Tax Law No. 3065 · Renewable energy projects agreement between Turkey and Saudi Arabia approved
- Special Consumption Tax Law No. 4760 · Renewable energy projects agreement between Turkey and Saudi Arabia approved
- Stamp Duty Law No. 488 · Renewable energy projects agreement between Turkey and Saudi Arabia approved
- Fees Law No. 492 · Renewable energy projects agreement between Turkey and Saudi Arabia approved
- Unemployment Insurance Law No. 4447 · Amendments made to the Implementation Regulation on the Employment Protection Support Program
- Social Insurance and General Health Insurance Law No. 5510 · Implementation principles and credit support limits of the Employment Protection Support Program updated
Income Tax Law No. 193
Agreement on renewable energy projects between Turkey and Saudi Arabia approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
The Decision regarding the Approval of the Intergovernmental Agreement between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia Concerning Renewable Energy Plant Projects has been published in the Official Gazette. This regulation aims to facilitate the development of two solar power plant projects with a total capacity of 2,000 MWe in Turkey (Taşeli and Sivas SPP) and additional projects with a capacity of 3,000 MWe in subsequent periods. The Saudi developer company undertaking the projects will establish special purpose project companies in Turkey, and these companies will be granted corporate tax incentives, customs and VAT exemptions, as well as the right to keep books and issue invoices in foreign currency.
Specific tariffs have been established for electricity trade transactions, and various facilitations will be provided by government institutions regarding issues such as land acquisition and permit processes for the projects. The Agreement does not make a direct amendment to Income Tax Law No. 193, establishing instead an international framework for investment and energy cooperation.
Effective date
on the date of its publication
İşbu HAA, Taraflardan birinin diğer Tarafa, HAA’nın yürürlüğe girmesi için kendi ilgili kanunları uyarınca gerekli usullerin tamamlandığını diplomatik kanallar aracılığıyla bildirdiği son bildirim tarihi itibarıyla yürürlüğe girecektir
Who is affected
Companies operating in the renewable energy sector, investors, legal entities executing energy projects with Saudi Arabia, and relevant public institutions.
Corporate Tax Law No. 5520
Agreement between Turkey and Saudi Arabia regarding renewable energy projects approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
Published in the Official Gazette, this decision entails the approval of an intergovernmental agreement between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia concerning renewable energy power plant projects. Within the scope of the agreement, it is aimed to develop two solar power plants with a capacity of 1,000 MWe each in Sivas and Taşeli. The regulation introduces various facilitations and exemptions for project companies, such as corporate tax incentives, VAT and customs duty exemptions, and the maintenance of books and invoicing in foreign currency.
Protection mechanisms against potential amendments to national legislation have been envisaged to preserve the economic balance of the projects. The relevant project companies will be established in Turkey, and transfer processes along with operational principles have been bound to specific rules. While this document does not directly amend Corporate Tax Law No. 5520, it is closely related to the relevant legislation due to the tax incentives and exemptions provided to investors.
Effective date
on the date of its publication
İşbu HAA, Taraflardan birinin diğer Tarafa, HAA’nın yürürlüğe girmesi için kendi ilgili kanunları uyarınca gerekli usullerin tamamlandığını diplomatik kanallar aracılığıyla bildirdiği son bildirim tarihi itibarıyla yürürlüğe girecektir
Who is affected
Companies operating in the renewable energy sector, investors, and relevant project companies.
Value Added Tax Law No. 3065
Renewable energy projects agreement between Turkey and Saudi Arabia approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
This Official Gazette decision entails the approval of the intergovernmental agreement signed between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia concerning renewable energy power plant projects. Within the scope of the agreement, it is aimed to develop two solar power plants with a capacity of 1000 MWe each in Sivas and Taşeli, and to provide an additional capacity of 3000 MWe through complementary projects.
The regulation grants various facilitations and exemptions to project companies, such as corporate tax incentives, customs and VAT exemptions, and the right to use EUR in bookkeeping. Share transfers of project companies, transactions to be carried out by TEİAŞ and EÜAŞ, and issues such as land acquisition are also regulated in detail in the agreement. With regard to Value Added Tax Law No. 3065, no direct amendment has been made, and the text merely includes VAT exemptions and references within the scope of the relevant national legislation.
Who is affected
Companies operating in the renewable energy sector, investors, and relevant public institutions.
Special Consumption Tax Law No. 4760
Renewable energy projects agreement between Turkey and Saudi Arabia approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
Published in the Official Gazette, this decision entails the approval of the intergovernmental agreement between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia concerning renewable energy power plant projects. Within the scope of the agreement, it is aimed to develop two solar power plants with a capacity of 1000 MWe each in Sivas and Taşeli, and to implement projects with a total additional capacity of 3000 MWe. Special tax and customs exemptions as well as corporate tax incentives are provided to project companies during the investment period, and reference is also made to Special Consumption Tax Law No. 4760 at the import stage.
The import of equipment and materials to be used within the scope of the project has been exempted from special consumption tax. While this regulation does not directly amend the articles of Law No. 4760, it introduces tax exemptions and facilitations for specific projects. Relevant companies and investors are required to comply with the designated procedures and principles in order to benefit from these exemptions.
Who is affected
Investors, project companies, and relevant importers operating in the renewable energy sector.
Stamp Duty Law No. 488
Renewable energy projects agreement between Turkey and Saudi Arabia approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
Published in the Official Gazette, this international decision entails the approval of the intergovernmental agreement signed between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia concerning renewable energy power plant projects. Within the scope of the agreement, it is aimed to develop and support two solar power plants with a total capacity of 2,000 MWe and additional projects with a capacity of 3,000 MWe in Turkey. While tax, customs, and import exemptions along with various facilitations are provided to project companies, a stamp duty exemption has also been introduced.
This regulation does not directly amend Stamp Tax Law No. 488, but merely defines a special exemption and area of application within the framework of the provisions of the international agreement. Relevant companies and investors must pay attention to the provisions of the relevant legislation in order to benefit from the exemptions provided in projects within this scope.
Who is affected
Companies, investors, and relevant energy sector actors operating in renewable energy projects.
Fees Law No. 492
Renewable energy projects agreement between Turkey and Saudi Arabia approved
Decision on the Approval of the Intergovernmental Agreement Between the Government of the Republic of Türkiye and the Government of the Kingdom of Saudi Arabia Concerning Renewable Power Plant Projects (Decision Number: 11670)
With this decision published in the Official Gazette, an intergovernmental agreement between the Government of the Republic of Turkey and the Government of the Kingdom of Saudi Arabia concerning renewable energy power plant projects has been approved. Within the scope of the agreement, the development, financing, and operation of two solar power plant projects with a capacity of 1,000 MWe each in Sivas and Taşeli will be facilitated. Various financial facilitations and exemptions, such as corporate tax incentives, customs duty, VAT, and stamp duty exemptions, are granted to the Saudi company and special purpose companies that will implement the projects.
Additionally, the projects include special regulations such as the employment of foreign personnel and the rights to keep books and make payments in foreign currency. While this decision does not make a direct amendment to Fees Law No. 492, it contains references regarding certain administrative and financial processes envisaged for the relevant projects.
Effective date
28 August 2026
İşbu HAA, Taraflardan birinin diğer Tarafa, HAA’nın yürürlüğe girmesi için kendi ilgili kanunları uyarınca gerekli usullerin tamamlandığını diplomatik kanallar aracılığıyla bildirdiği son bildirim tarihi itibarıyla yürürlüğe girecektir
Who is affected
Companies operating in the renewable energy sector, investors, and relevant energy institutions.
Unemployment Insurance Law No. 4447
Amendments made to the Implementation Regulation on the Employment Protection Support Program
Regulation Amending the Regulation on the Implementation of the Employment Protection Support Program
With this regulation published in the Official Gazette, comprehensive amendments have been made to the Implementation Regulation on the Employment Protection Support Program. The dates on which the program will be applied have been reorganized with a reference to provisional article 35 of Law No. 4447, and the ministry has been authorized in determining the reference and protection periods. A pro-rata basis has been introduced for support calculations, and credit limits and conditions have been restructured.
In addition, special rules and completion visa conditions have been added for enterprises with incentive certificates. Application processes have been moved to the online portal, and payment and offsetting procedures have been clarified. While this regulation does not directly amend the text of Law No. 4447, it fundamentally updates the implementation principles of the support program based on the relevant law.
Article by article
Paragraph 1 of Article 5
Before The support program was executed between 1/1/2026 and 31/12/2026.
Now The support program is executed between the dates determined in provisional article 35 of Law No. 4447.
The validity dates of the program were made more flexible by being tied directly to the law article.
Paragraph 2 of Article 5
Before Only the November-December period of 2025 was taken as the reference period.
Now Reference and protection periods will be calculated over periods to be determined by the Ministry, disregarding fractions.
The reference period was removed from being fixed, left to the discretion of the ministry, and the calculation method was clarified.
Paragraph 4 of Article 5
Before Credit support amounts and conditions were subject to more limited rules.
Now New formulas, technical criteria, special limits for enterprises with incentive certificates, and a maximum limit of 15 support points were introduced for credit support amounts.
Upper limits and conditions of loans that enterprises can utilize were detailed, granting increased opportunities.
Article 6
Before How applications would be received and administrative processes were regulated with more general statements.
Now It was stipulated that applications will be received through the online application portal and processes can be carried out jointly with KOSGEB.
Application and tracking processes were moved entirely to a digital environment and a joint inter-institutional working principle was introduced.
Article 7
Before Payment stages and periods were executed according to different principles.
Now The submission of payment lists, bank accounts, Go Digital Wallet transfers, offsetting, and deadlines were clarified.
Payment channels were diversified and rules regarding application deadlines became clear.
Effective date
28 August 2026
Bu Yönetmelik yayımı tarihinde yürürlüğe girer.
Who is affected
Enterprises operating in the manufacturing industry benefiting from the employment protection support program and SMEs.
Social Insurance and General Health Insurance Law No. 5510
Implementation principles and credit support limits of the Employment Protection Support Program updated
Regulation Amending the Regulation on Implementation of the Employment Protection Support Program
With this regulation published in the Official Gazette, significant amendments have been made to the Implementation Regulation on the Employment Protection Support Program. The execution dates and reference periods of the support program have been tied to the dates in provisional article 35 of Law No. 4447 instead of fixed dates, thereby providing flexibility. A pro-rata basis has been introduced for the calculation of the 3,500 TL cash support for manufacturing industry enterprises, and the line of business codes in the SSI workplace registration number have been taken as a basis.
As for credit supports, new limits, technical criteria, and special conditions regarding incentive certificates within the scope of the Decree on State Aid for Investments have been added. It has been decided that applications will be received through the online portal, and payment and offsetting processes along with budgeting transactions have been reorganized. Employers are required to submit their applications in accordance with the determined procedures and principles and fulfill the relevant SSI premium day conditions in order to benefit from the supports.
Article by article
Paragraph 1 of Article 5
Before The support program is executed for protected employment between the dates of 1/1/2026 and 31/12/2026.
Now The support program is executed for protected employment between the dates determined in provisional article 35 of Law No. 4447.
The execution schedule of the program has been updated by being tied to the relevant article of Law No. 4447 instead of fixed dates.
Paragraph 2 of Article 5
Before Supports are provided to enterprises that maintain their average monthly premium day count for the November-December period of 2025 on a monthly basis in 2026.
Now Supports are provided to enterprises that maintain their average monthly premium day count for the reference periods to be determined by the Ministry on a monthly basis during the protection periods to be determined by the Ministry, provided that they are not shorter than six months.
The determination of reference and protection periods has been left to the authority of the Ministry, and the rule that fractions will not be taken into account in calculations has been added.
Paragraph 3 of Article 5
Before A support of 3,500 Turkish Liras is provided for thirty premium days per month to manufacturing industry enterprises operating in Section C NACE codes that protect their employment.
Now Based on the workplaces registered according to the line of business code in the SSI workplace registration number of manufacturing industry enterprises operating in Section C NACE codes, a support in an amount to be calculated on a pro-rata basis for thirty premium days per month corresponding to the period they protect is provided to those who protect their employment.
A pro-rata basis has been introduced to support calculation and registration principles based on line of business codes have been clarified.
Paragraph 4 of Article 5
Before The credit support amount to be utilized by manufacturing industry enterprises with SME status cannot exceed the average of November and December 2025, and a maximum of ten support points is applied.
Now Credit support is provided at limits to be determined based on employment costs to enterprises that protect their employment; it can be applied with a 100% increase for those complying with technical criteria and can reach a maximum of fifteen support points.
Credit support limits have been expanded, special conditions for enterprises with incentive certificates and an upper limit of maximum fifteen points of support have been introduced.
Effective date
28 August 2026
Bu Yönetmelik yayımı tarihinde yürürlüğe girer.
Who is affected
Manufacturing industry enterprises and employers benefiting from the Employment Protection Support Program.
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This bulletin is for information purposes only and does not constitute legal advice. The official text prevails.
